Financial Toolbox
  Go to function:
    Search    Help Desk 
payodd    Examples   See Also

Payment of loan or annuity with odd first period.

Syntax

Arguments

rate
Interest rate per period. Enter as a decimal fraction.
nper
Number of periods in the life of the instrument.
pv
Present value of the instrument.
fv
Future value or target value to be attained after nper periods.
dys
Actual number of days until the first payment is made.

Description

pmt = payodd(rate, nper, pv, fv, dys) returns the payment for a loan or annuity with an odd first period.

Example

A two-year loan for $4000 has an annual interest rate of 11%. The first payment will be made in 36 days. To find the monthly payment:

returns

See Also

amortize, payadv, payper

[ Previous | Help Desk | Next ]